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This government, like its predecessors, is reducing the role of
the state in our lives. Whether we call this empowerment or not is neither here nor there.
Whatever the current spin, effectively what this means is that things which were
previously funded through the tax system now have to be supported by individuals paying
cash up-front.
This is a continuing trend. It becomes ever more important for people to think ahead and
try to save funds for future exigencies such as pensions, health and education costs.
State provision may not be there in the future.
But, as everyone knows, it is hard to save. Derisory bank interest rates offer little
encouragement. In April this year, to encourage saving, the government introduced a
tax-free savings scheme, the Individual Savings Account or ISA. The rules governing ISAs
are, however, rather complicated, which may put some people off. Nevertheless, if you are
going to start saving money for future needs, these accounts are generally much better for
you than ordinary bank accounts, as your savings will grow faster in an ISA due to the
preferential tax treatment they receive. You can put in lump sums or monthly amounts to
suit your budget as long as you do not exceed Inland Revenue limits. There is now a
diverse range of ISA products available. In essence, you can put your money into
cashaccounts, life insurance, or shares. Different funding limits apply to each component.
Many people want to know just how their savings are being used. For example, whilst you
can put your money into a cash account, you have no idea what the bank is doing with it
they might, for example, lend it to arms manufacturers who sell to the Indonesian or
Turkish military. The same is true for investing in shares through managed funds or unit
trusts in general, you don't know into which companies your money is going.
These concerns about the uses to which one's money is being put have led to a growth of
interest in what are now known as 'ethical' investments. These are ways of saving your
money with organisations bound by an ethical investment code. Ethical investments can be
made under the ISA umbrella.
Choosing which particular ISA best suits your circumstances requires some research. A
reputable Independent Financial Adviser can help. It's your choice.
GENERAL TIPS: Look for the following criteria:
· Can you switch part or all of your investment into different funds (for when you get
jumpy about the stockmarket)?
· Can you make partial withdrawals (as above) if so, what's the charge?
· Can you make regular monthly payments if so, what is the minimum monthly amount?
· Can you stop or reduce regular payments at any time with no penalty?
BE AWARE:
· Initial charges range from 0.00% to 5.75%
· Annual management fees from 0.25% to 1.5%
· Bid/offer spread from 0% to 6.85%
Your financial adviser may be able to negotiate charges by waiving or reducing commission
on these products.
Sarah Chapman is a Partner at Davies & Chapman; 143 Stoke Newington Church Street
London N16 0UH. Tel:020 7923 9069.
Pizza Paper
When did you last see your doormat? Probably not since early morning,
before it was covered by an avalanche of multi-coloured paper. Some time later after
hearing the rattle of the letter-box throughout the day you picked the paper up and threw
it straight in the bin. It would have been easier for the senders to have it collected
from their premises by the Council and taken direct to the rubbish recycling depot. Why
not cut out the middle man?
Is it because Stoke Newington has so many restaurants that residents are bombarded with
pizza leaflets and offers of Indian meals on wheels? Free deliveries of orders over £10,
free bottle of house wine, discounts with coupons, a carton of orange, one and a half
litres of coke, dial-a-meal, dial-a-curry and Balti Mania.
They come from all over; as far away as Chapel Market, Balls Pond Road and Mildmay Park.
Some meals must be pretty well chilled by the time they reach their destination. Are they
proper restaurants or just food factories churning out chicken tikka massala by the ton?
Years ago, some 'respectable' houses had a sign on their garden gates saying 'No Hawkers
or Circulars.' The hawkers were door to door salesmen with their suitcases full of brushes
or clothes. They are now almost extinct; their profession only kept alive only by those
strange blokes working for mysterious charities who flog oven gloves or ironing board
covers.
The 'circulars' are still with us, however, and in vast numbers. Huge pine forests in
Finland are being felled to provide leaflets which tell us that melted mozzarella cheese
spread on dough and delivered by Robocop makes an enjoyable meal.
N16 is a socially responsible magazine and in order to try to
minimise the paper storm we have commissioned research into the following products:
'The Shocker.' To be used on metal flap type letter-boxes. Wired directly
into the mains, it delivers a sub-lethal shock that will paralyse the arm of the delivery
person for up to two hours.
'The Little Squirt.' Specially developed sensors assess the height of the
person approaching the door. As soon as the letter-box is opened it delivers a strong jet
of fluorescent oily liquid into the groin area.
'The Amputator.' Designed to be used on more open letter-boxes where
fingers are inserted during delivery. A device with razor-sharp scissor action performs
the required operation. Made of finest Sheffield steel. (Warning. These should be
activated only after the postman has called.)
A further low cost deterrent which can be used with these products or separately, is a
digital recording of the sound of two savage attack dogs fighting over the carcass of next
door's cat. Adjustable volume. This comes in particularly useful at election times when
you may be asked to open the door to canvassers.
If you are interested in obtaining these hi-tech products, please write to us. Our free
sales brochure will be delivered immediately through your front door. |
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